SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Snap Inc. (SNAP) on Thursday reported a loss of $328.7 million in its first quarter.
The Santa Monica, California-based company said it had a loss of 21 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 1 cent per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The company behind Snapchat posted revenue of $988.6 million in the period, falling short of Street forecasts. Twelve analysts surveyed by Zacks expected $1.01 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SNAP at https://www.zacks.com/ap/SNAP
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